Cryptocurrency wallets offer the users a digital solution to securely store and manage blockchain assets & cryptocurrencies. Users can send, receive and trade cryptocurrencies by using crypto-wallets. So, this article will help you to know about the best five crypto wallets in UAE.
Table of Contents
Summary: Best Crypto Wallets in UAE
|Features||Ledger||Trezor||Metamask||Coinbase Wallet||Trust wallet|
|Device||Mobile / Desktop||Mobile / Desktop||Desktop||Mobile||Mobile|
|Supported Cryptos||more than 1,800 different tokens||1000+ coins and tokens||All ERC-20 tokens||Support 500+ tokens like BTC, ETH, BCH, USDC, USDT ,etc.||More than 40 blockchains and 160k+ assets supported.|
|Security||Certified Secure ElementPin code 24-word recovery||Uses a password manager, certification levels CE and RoHs.||Biometrics support, Privacy mode, Seed phrase backup||Secure Enclave, biometric authentication & optional cloud backups||Seed phrases to recover funds, No identity leak, Biometric security|
What are Crypto Wallets?
A crypto wallet is defined as a physical medium, device, program, or service that stores the public/ private keys for transactions of cryptocurrencies. For instance, a user buys a bitcoin. However, since bitcoins have no physical form, how will the users securely keep those bitcoins? Therefore, a crypto wallet will help in storing cryptocurrencies and digital crypto assets.
Types of Best Crypto Wallets in UAE
There are different types of cryptocurrency wallets. But there are two most common wallets which are mentioned below:
Hardware wallets are physical devices used for storing cryptocurrencies. These wallets do not connect to internet-run applications. Instead, they keep your funds safe from attackers by storing your private keys in offline mode.
In contrast to hardware wallets, software wallets are non-physical programs that are downloaded on computers. Moreover, these wallets are encrypted and you own your private keys; however, completely offline hardware wallets should be preferred while storing a great number of crypto assets.
1st Best Crypto Wallets in UAE
Ledger: Hardware Wallet
Ledger wallets are one of the most popular hardware cryptocurrency wallets with more than three million+ sales and are also considered to be the best Crypto Wallets in UAE. It is made by Ledger, a company headquartered in Paris. With Ledger, you can store, secure, and manage over 1800+ crypto assets. Moreover, Ledger securely keeps the user’s private keys and offers isolation between devices and private keys.
In addition to all of that, you can also earn a passive income on your crypto assets directly through your hardware wallet. Ledger supports staking and also trading your assets directly through the Ledger Live mobile app.
|Products||Ledger Nano S||Ledger Nano X|
|Material||It is made of brushed stainless steel and plastic||It is made of brushed stainless steel and plastic|
|Bluetooth Connection||Not supported||Supported|
|Color Options||Six color options||Black|
|Is Ledger Safe?||Certified Secure Element|
Pin code 24-word recovery
|Size||56.95mm x 17.4mm x 9.1mm||72mm x 18.6mm x 11.75mm|
|Compatibility||64-bits desktop computer and also compatible with Android 7+ smartphones||64-bits desktop computer and also compatible with smartphones|
|Connector on product||USB Type Micro- B||USB Type-C|
|Price||Rs.5265.00 (GST and duty not incl.)||Rs.10619 (GST and duty not incl.)|
|Pros||Ledger contains a Secure Element (SE) chip that protects your private keys. |
Ledger is one of the cheapest crypto wallets in the market.
Comes with the Ledger Live app.
|Cons||Not found any.|
2nd Best Crypto Wallets in UAE
Trezor: Hardware Wallet
Trezor wallet allows you to store, send and receive your cryptocurrencies safely. It was released in 2014 by a company named SatoshiLabs, located in the Czech Republic. Also, Trezor offers two wallets, and both of them inherit the top security features. To conclude, a Trezor wallet is a larger device when compared to a ledger wallet.
|Products||Trezor One||Trezor Model T|
|Display||128 x 64 pixels||240 x 240 pixels|
|Size||60mm x 30mm x 6mm||64mm x 39mm x 10mm|
|USB Type||Micro B||Type-C|
|Bluetooth Connection||Not supported||Not Supported|
|Display||Monochrome display +2 buttons||Full-color touchscreen|
|Compatibility||Support all major computer operating systems on mobile devices, and Android is supported||Support all major computer operating systems: On mobile devices, Android is supported|
|CPU||120 MHz embedded ARM processor (Cortex M3) running a custom developed system.||168 MHz embedded ARM processor (Cortex-M4) running a custom developed system, the Trezor Core.|
|Supported cryptocurrencies||Supports 1000+ cryptocurrencies||Supports 1200+ coins|
|Price||EUR 49||EUR 159|
|Pros||There is an easy GUI built-in to the device and friendly application to perform your crypto transactions.|
Its seamless integration with MEW (MyEtherWallet) makes ERC-20 easier and safer to store.
|Cons||Users might be required to learn about new concepts such as “security seeds.”|
Transaction opportunities are limited. Two-button navigation can often be tricky.
3rd Best Crypto Wallets in UAE
Metamask: Software Wallet
MetaMask is a browser-based plugin that acts as a wallet and allows users to connect with blockchain networks like Ethereum via a browser (Also have mobile apps). Moreover, via MetaMask, users can also interact with Ethereum Dapps. What sets Metamask apart from other digital wallets is its encryption capabilities. Additionally, passwords and private keys are stored securely, with the user only needing to manage their independent seed phrase.
|Wallet Type||Browser extension|
|Supporting Platforms||Browser, iOS, Android|
|User Guide||Straightforward and easy to read Swift user on-board process|
|UI and Visual||Light, clean and simple UI|
|Account Management||One single wallet address for different tokens in an account, a Single seed phrase for multiple private keys|
|Is Metamask Safe?||Biometrics support, Privacy mode enabled by default- EIP-1102, Seed phrase backup|
|Token Storage||Securely store ETH, ERC20 tokens (like Dai), and ERC721 tokens|
|Pros||It comes with an elegant interface for ease of use and smooth actions private keys kept on the browser|
|Cons||Only supports Ethereum and ERC-20 tokens “hot” wallet – safety concerns|
Also, read Set up MetaMask for Binance Smart Chain
4th Best Crypto Wallets in UAE
Trust wallet: Software Wallet
Trust Wallet is a mobile-based, open-source, and multi-coin cryptocurrency wallet. Also, Binance had made Trust Wallet its officially recommended wallet application and has absorbed some of Binance’s technology. Further, the trust wallet is effortless to use, and it’s very user-friendly, especially to non-tech-savvy users. Currently, over 5 million people are using the Trust Wallet worldwide.
|Interface||Simple and easy to use|
|Accessibility||can be accessed across mobile platforms, iOS, and android|
|Decentralized||Has a decentralized finance environment, Trades directly from Binance DEX|
|KYC Requirement||Not required|
|Network Fees||The network fee is different depending on the coin. No additional fee is charged for using the wallet|
|Non- custodial wallet||Decentralized wallets with complete control over private keys and funds|
|SegWit||Segmentation Witness Integrated|
|Is Trust wallet safe?||Stores private keys, Seed phrases to recover funds, No identity leak, Biometric security|
|Pros||Trust Wallet offers a clean and straightforward user interface (UI) that significantly enhances its usability. The wallet allows you to swap and exchange digital assets without leaving your wallet.|
|Cons||Does not offer two-factor authentication (2FA).|
5th Best Crypto Wallets in UAE
Coinbase: Software Wallet
The Coinbase Wallet app allows users to store and secure their crypto assets. You do not require an account on Coinbase to use the Coinbase Wallet app. Moreover, Coinbase Wallet helps users manage their private keys and store their crypto assets directly on their devices without a crypto exchange. Further, You cannot connect Coinbase Wallet to your bank account to buy or sell cryptocurrencies with US Dollars or other fiat currencies. Also, the most amazing part is you can download and use Coinbase Wallet anywhere in the world.
Furthermore, the wallet is completely free to use and does not store your private keys. Coinbase is the biggest regulated trading platform in the USA, and hence you won’t be facing any security issues. You can learn more about the platform from our Coinbase review.
|Interface||User-friendly and easy to use|
|Accessibility||Can be accessed across the web, Android, and iOS|
|Supported Cryptocurrency||Support 500+ tokens like BTC, ETH, USDT, UNI, LINK, BCH, USDC, LTC,etc.|
|Security||keys are protected with Secure Enclave, biometric authentication & optional cloud backups|
|Pros||It is well funded and backed by a reputable exchange.Ability to access more digital financial instruments than just cryptocurrencies|
|Cons||Acts as a hosted wallet, so keys are stored elsewhere|
Conclusion: Best Crypto Wallets in UAE
While choosing a crypto wallet, you should always look forward to the reviews of that wallet. A high-quality and secured wallet is a must to protect your crypto assets. Therefore, your crypto wallets are as safe as your devices. So, take every necessary precaution to secure your password and always store them. Unfortunately, if you lose your password, then your crypto assets are also at risk of loss. You can go with the Coinbase wallet as it has the trust of hundreds of thousands of Americans. Or you can choose the Ledger Hardware wallet, as it is the safest hardware wallet on the planet.
Frequently Asked Questions
Is my Ledger device genuine?
A few simple checks can assure you that whether your device is a genuine Ledger product or not:
Origin of the Ledger product
Condition of the recovery sheet
The initial state of the Ledger device
Is it possible to switch from my existing wallet app like Metamask, MyEtherWallet, etc., to Coinbase wallet?
Yes, it is possible. Each and every wallet makes use of a private key to secure its assets which you can easily import into the Coinbase Wallet. So you just need to look for the 12-word recovery phrase in the settings menu of your current wallet and then use that exact 12-word phrase to sign into Coinbase Wallet.
How do I install Metamask?
Go to Metamask and select from Android or iOs for mobile applications and select chrome for desktop. You can also go directly to Chrome, Google Play, or Apple App Store(Soon).
Is Trezor a good wallet?
Yes, Trezor is a reliable and trustworthy wallet in the cryptocurrency world. It is a well-known hardware wallet that serves high security and is being used by more than 1 million crypto users globally.